The new data shows the unusual nature of the economy: the U.S. has both a strong job market and cooling inflation, usually contradictory signs of economic health.
WASHINGTON — A measure of consumer prices that is closely monitored by the Federal Reserve fell last month to its lowest level since March 2021, the latest sign that inflation in the United States is steadily cooling from its once-painful highs.
Prices rose just 3% in June from 12 months earlier, down from a 3.8% annual increase in May, though still above the Fed’s 2% inflation target. On a monthly basis, prices rose 0.2% from May to June, up slightly
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